Back Quote by Ben Bernanke
“People saw the Depression as a necessary thing - a chance to squeeze out the excesses, get back to Puritan morality. That just made things worse.”
About This Quote
Source Historical Analysis: The Great Depression, 1929‑1939, 2009
The Depression was viewed as a moral correction, but that mindset worsened suffering.
In simple terms: Seeing crisis as moral fix increased harm.
Key Takeaway
Avoid moralizing economic crises.
Themes
economics
history
ethics
Mood
critical
reflective
Type
historical
analytical
When to use this quote
- government relief programs
- public opinion
- economic policy debates
Key Concepts
moral panic
policy response
social welfare
Questions to Reflect On
- Did moral narratives shape New Deal policies?
- How can we separate ethics from economics?
A Different Perspective
Moral judgments can distract from practical solutions.
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